KARACHI, Nov 15: The Trading Corporation of Pakistan (TCP) has managed to purchase 100,000 tons of urea from the international market at a competitive price of $284.90 per ton C&F.

The TCP had invited bids on Nov 12, and after receiving bids from pre-qualified foreign suppliers, it awarded contract to the lowest bidder at $284.90 per ton c&f.

TCP officials say that the prevailing price of urea in the world market is $260 to 310 per ton FOB which does not include freight, financial charges and supplier’s expenditure.

Therefore, the Trading Corporation of Pakistan believes that $284.90 per ton C&F which also includes freight charges is a good and competitive price, says a press release.